ATO

Hairdresser - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a hairdresser employee. Other work-related expenses Capital allowances You can claim a deduction, called a capital allowance, for the decline in value of equipment used for work. If the equipment is also used for private purposes, you cannot claim a deduction for that part of the decline in value. You cannot claim a deduction if the equipment is supplied by your employer or any other person. Generally, the amount of your deduction depends on the effective life of the equipment. Equipment costing [...]

Nurse, midwife and direct carer - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a nurse, midwife and direct carer employee. Firstly, look at the particular rule of reportable fringe benefits for this field. Reportable fringe benefits Your employer is required to report the total grossed-up amount of certain fringe benefits exceeding $2,000 provided to you or your relatives on your payment summary. Car expenses There are four ways to work out your car expenses. The four methods are: Cents per kilometre Logbook 12% of original value One-third of actual expenses For [...]

Attribute Personal Services Income (PSI) Before attributing Personal Services Income. What is PSI Personal Services Income is the income you received as a sole trader, including: A pay as you go (PAYG) voluntary agreement An amount was withheld because you did not quote your Australian business number (ABN) Working under a labour hire arrangement as an independent contractor Specified payments for Tutorial services you provided for the Indigenous Tutorial Assistance Scheme of the Department of Education, Employment and Workplace Relations Translation and interpretation services you provided for the Translating and Interpreting Service National of the Department of Immigration and Border [...]

Introduction to Deductions When completing your tax return, you're entitled to claim deductions for some expenses depending on employee industries, most of which are directly related to earning your income. To claim a work-related deduction: you must have spent the money yourself and weren't reimbursed it must be related to your job you must have a record to prove it (there are some limited exceptions) If the expense was for both work and private purposes, you can only claim a deduction for the work-related portion Deductions you can claim for Specific Industries In order to get the best Tax Refund, [...]

Truck driver - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a truck driver. First of all, three types of truck driver need to be determined before look into those deduction rules. Short-haul or local drivers and long-haul drivers Short-haul or local drivers usually return home at the end of a day's work. A long-haul driver usually sleeps away from home in the course of driving the truck. Allowances The most common allowances paid to an employee truck driver are: Overtime meal allowance Travel allowance includes meal In the trucking industry, a [...]

Lawyers Work-related expenses Did you have expenses relating to your work as an employee? Here is a list of expenses commonly incurred by employee lawyers. You cannot claim costs met by your employer or costs that are reimbursed. Capital allowances You can claim a deduction, called a capital allowance, for the decline in value of equipment used for work. If the equipment is also used for private purposes, you cannot claim a deduction for that part of the decline in value. You cannot claim a deduction if the equipment is supplied by your employer or any other person. Generally, the [...]

Travel agent employees - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a travel agent employee. Travel expenses As a travel agent you may undertake travel as part of your work or travel to a range of destinations during your annual leave or educational leave. Travel while on leave is often referred to as educational or familiarisation travel. Therefore, in a general rule: Travel expenses on work travel are deductible and travel expenses on a holiday are not deductible Travel expenses associated with attending conferences, seminars and training courses are usually for [...]

Shop assistants employee - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a shop assistants employee. Capital allowances You can claim a deduction, called a capital allowance, for the decline in value of equipment used for work. Normally, the amount of your deduction depends on the effective life of the equipment. If the equipment is also used for private purposes, you cannot claim a deduction for that part of the decline in value. You cannot claim a deduction if the equipment is supplied by your employer or any other person. Equipment costing [...]

Sales and marketing manager - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a sales and marketing manager employee. Daily travel expenses You can claim a deduction for the cost of transporting bulky tools and equipment between home and work if: You need to use them at work There is no secure area for storing them at your workplace You can claim a deduction for the cost of travelling between workplaces on the same day, including: Different workplaces for the same employer Separate places of employment You can claim the cost of [...]

Real estate employees - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a real estate employee. Daily travel expenses Travel expenses that you claim must directly relate to your work as an employee, including: Car expenses Bridge and road tolls Expenses for motorcycles and vehicles Public transport such as taxi fares Short-term car hire Actual expenses like any petrol, oil and repair cost Parking fees Generally, the cost of normal trips between your home and work is not claimable as an income tax deduction. However, as an employee in the [...]

Pre-CGT asset What is Pre-CGT asset? The rules for each CGT event also set out certain exemptions, a pre-CGT asset, most CGT events disregard a capital gain or loss arising from a CGT event happening in relation to an asset acquired before 20 September 1985. Under Income Tax Assessment Act 1997, s149.10, a pre-CGT asset is only if Taxpayer last acquired the asset before 20 September 1985 Taxpayer was not, immediately before the start of the 1998-99 income year, taken under: Acquired assets prior to 20 September 1985 and on or after that date there is a change of 50% [...]

Plumber employees - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a plumber employee. Firstly, as a plumber you cannot claim a deduction for expenses you incur if those expenses are reimbursed to you by your employer. Secondly, you must keep written evidence, like receipts, for work-related expenses that total amount is more than $300. Even the total amount is less than $300, you still need to ensure all the claims are reasonable without receipts. Transport expenses Any travel expenses you claim must directly relate to your work as an employee. These [...]

Journalists Work-related expenses Did you have expenses relating to your work as an employee? Here is a list of expenses commonly incurred by employee journalists. You cannot claim costs met by your employer or costs that are reimbursed. Capital allowances You can claim a deduction, called a capital allowance, for the decline in value of equipment used for work. If the equipment is also used for private purposes, you cannot claim a deduction for that part of the decline in value. You cannot claim a deduction if the equipment is supplied by your employer or any other person. Generally, the [...]

GST - Calculation Method for Food Retailers For Food Retailers dealing with buy and sell food in both taxable and GST-free. In order for retailers to calculate the amount of GST they are subjected to pay, ATO has introduced a new method for calculating the GST payable. 5 Methods for retailers to elect one based on their best interest: Business Norms Stock Purchases Snapshot Sales Percentage Purchases Snapshot Before looking into each method, retailers need to identify themselves whether eligible to use this new GST methods. Retailers are eligible if only meet the following requirements: Registered for GST Turnover must [...]

Mining site employees - claiming work-related expenses This summary outlines some of the deductions you can and cannot claim as a mining site employee. Car expenses for vehicles under one tonne You cannot claim deductions for your car expenses from home to work even if: you work outside normal business hours you are on call you did minor work-related tasks on the way to work or home you live a long distance from work, or there is no public transport available. Travel from the mine site security checkpoint to the parking area is part of your home to work travel. [...]